New Gold Inc (AMEX: NGD) 52-Week High Located At $2.01, Forget The Dips, Just Ride The Rips

New Gold Inc (AMEX:NGD) does about 7.87M shares in volume on a normal day but saw 7237950 shares change hands in Monday’s trading. The company now has a market cap of 1.28B USD. Its current market price is $1.86, marking a decrease of -4.62% compared to the previous close of $1.95. The 52 week high reached by this stock is $2.01 whilst the lowest price level in 52 weeks is $0.86.

New Gold Inc (NGD) has a 20-day trading average at $1.8100 and the current price is -7.46% off the 52-week high compared with 116.28% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.7230 and its 200-day simple moving average is $1.3199. If we look at the stock’s price movements over the week, volatility stands at 4.67%, which increases to 4.88% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 55.02 to suggest the stock is neutral.

The consensus objective for the share price is $2.09, suggesting that the stock has a potential upside of 11.0% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on March 03, 2023 when Scotiabank resumed the stock to “Sector Perform” and issued a price target of $1.25. RBC Capital Mkts upgraded its price target at $1-$1.25.

Its price is 27.40% year-to-date and 32.86% over the past year.

The company’s next earnings report forecasts estimating quarterly EPS at 0.01 and 0.12 for whole year. Expected sales for next quarter are $258.02M, which analysts say will come at $912.16M for the current fiscal year and next year at $1.04B. In addition, estimates put the company’s current quarterly revenue at an average of $208.91M.

To reach the target analysts have set, the stock logically needs to grow 11.0 percent from here.

The company has a return on investment of -6.71% and return on equity of -9.44%. The forward price to earnings ratio is 9.23. The beta has a value of 1.45. Price to book ratio is 1.74 and price to sales ratio is 1.65.